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Open Insight #21


2024 has been a successful year for Net Insight, as we have strengthened our market position and delivered solid results. A revenue growth of 13.4 percent excluding Non-Recurring Engineering (8.7 percent as per reported) and an operating margin of 13.0 percent, despite significant investments for future growth, demonstrate that our dedicated focus is paying off. We continue to expand our customer base and reinforce existing partnerships within media, while we have also successfully initiated the commercialization of our GNSS/GPS-independent time synchronization solution, Zyntai, within 5G and other critical networks.

The temporarily weaker final quarter of 2024 came mainly on the back of strong comparatives including orders related to customers’ remaining budget capacity in the prior year. As I pointed out in connection with the publishing of the year-end report, we saw no trend reversal to the downside in the underlying business in the current quarter, albeit a somewhat cautious market in EMEA and APAC. Our focus market Americas showed good development.

Over the past six months, we have intensified our efforts in the capital market through a series of strategic initiatives, active dialogues, and meetings with investors. These efforts have been important steps in further strengthening our investor relations and increasing transparency around the company. Our view is that the recent share price performance does not reflect the our positive progress and the advancements we are making. At the same time, we see many exciting opportunities ahead and remain firmly committed to building a strong and sustainable business for the long term. I look forward with great confidence to our continued journey and the opportunity to create value for both our customers and our shareholders.

Enjoy reading the latest edition of Open Insight!


Media customer growth creates a solid foundation for continued growth

In recent years, Net Insight has grown not only by strengthening relationships with existing media customers and expanding alongside their success, such as with Tata Communications, NEP, Globecast, Red Bee Media and many more. We have also expanded our customer base and seen a rising share of net sales derived from new media customers. Over the past three years we have welcomed a good number of new customers and in 2024 we gained new ones in all three regions, a testament to our dedicated work and long-term investments in the sales organization.

A key factor behind this success has been our ability to manage the ongoing IP transition in the industry and provide customers with a flexible solution that meets their needs. This transition has been one of the biggest challenges our customers have faced. On the back of already established infrastructures, many have been hesitant to undertake a comprehensive upgrade that requires significant investments and potentially could cause operational disruptions.

Early on, we recognized that the key to a successful transformation was to offer flexibility rather than forcing a complete technology shift all at once. Our strategy was therefore to develop a technology-agnostic solution that enabled customers to gradually adapt to IP without having to replace their entire existing equipment. By combining our proprietary technologies with open IP-based solutions, we have created a flexible model where each customer can choose their own pace and the extent of their transition.

By offering a reliable solution for when nothing can go wrong, that works for both those who wish to retain their existing systems and those looking for a full transition to IP, we have been able to build trust with both new and existing customers. I am very pleased with how we have been able to meet the needs of this transformation. The accelerated net sales from new customers over the past years have further strengthened our foundation for continued growth.

Continued focus on two types of strategic media customers

Net Insight has a number of large, established media customers that contribute a significant share of our revenues and are experiencing strong growth themselves, allowing us to expand alongside them through long-term partnerships.

In addition, we are focusing strongly on a group of strategically important, growth accounts, who, while currently smaller for us in terms of revenue, have the potential to grow significantly in the future. These media customers are not only important because of their growth potential, but also because of their influential market position, which makes them valuable reference customers for attracting other potential clients.

Establishing and developing collaborations with such key players, in particular large broadcasters and global production companies, is therefore one part of our long-term growth strategy and last year we secured such new customers in all three regions.

In line with the strategy we launched in 2021, among other things including an expansion of our sales organization, we are now seeing obvious signs that our long-term investments in this area are yielding results. As an example, in Q4 2024, we secured a new major media customer in the Middle East, further strengthening our presence in the region.

At the same time, we continue to gain market share in the U.S., where we see growing interest in our media solutions and towards the end of 2024 signed a deal with one of the leading US media companies operating one of the largest TV networks in the country.

Net Insight and Riksteatern: A new era of remote theatre production unlocking new growth opportunities

Net Insight is continuing to expand its horizons beyond traditional sports production and into new markets, and a recent collaboration with Riksteatern, Sweden’s National Touring Theatre, marks a significant milestone in this journey. Together, we have pushed the boundaries of performing arts with a pioneering remote production of The Canterville Ghost, blending both sign and spoken language to deliver a truly inclusive theatrical experience.

In this production, the ghost is portrayed as a live 3D-animated avatar, performed in real-time by an actor wearing a motion capture suit. While the actors and audience were present at the theatre in Sundsvall, Sweden, the ghost itself performed 400 kilometers away in Botkyrka, interacting seamlessly with the cast on stage. This was made possible through Net Insight’s Nimbra solution, which offers ultra-low latency and high-quality media transport for a smooth, real-time experience.

The collaboration between Net Insight and Riksteatern highlights how this technology is unlocking new business opportunities for us beyond the sports industry and traditional markets. By offering remote production capabilities, we can expand into sectors such as theatre, concerts, corporate events, education, and other live productions in many countries and regions.

The potential for growth in these areas is significant, as demand for high-quality and interactive live experiences increases. As more industries invest in media technology to improve events, Net Insight is well-positioned to meet this demand and expand into new markets, both with our managed* and unmanaged (internet- and cloudbased) * solutions.

* Managed networks provide connectivity under a service-level agreement with service providers or within dedicated private networks and is used for high-value or mission-critical media services. Dedicated resources proactively manage the network to ensure quality, with the ability to immediately resolve issues through active monitoring and planned maintenance.

** Unmanaged networks provide connectivity without guaranteed availability and reliability. These networks include mobile data networks and are publicly accessible. They play a key role in providing easy and fast access to internet-connected or cloud-based services. Since quality is not guaranteed, media transport solutions over this type of network must be able to manage potential quality and operational risks.

Read more here.

Continued growth in unmanaged network solutions

We are strengthening our position in internet- and cloud-based (unmanaged) network solutions. In recent years, Net Insight have seen growing interest in this technology from a broad customer base, including sports productions, live events, and media companies that need to ensure high-quality and reliable content delivery over open networks.

A broader range of potential customers are looking for flexible and cost-effective solutions that enable more efficient production without compromising quality or stability. Increased efficiency and cost-effectiveness also mean that more types of events can be monetized – events that were previously too small to produce and distribute profitably. By meeting these needs, we are creating new business opportunities, including a growing share of recurring revenue, and reinforcing our long-term market position.

A recent example of this is our contribution to one of Asia’s largest winter sports events. Here, our Nimbra 400 and Nimbra Edge solutions played a crucial role in enabling remote production over the open internet. The event relied on our ultra-low latency, cloud-based transport to deliver seamless, high-quality live broadcasts without the need for dedicated infrastructure. Broadcasters and production teams could manage live content efficiently across multiple locations, reducing costs while ensuring a flawless viewing experience.

Our involvement in such high-profile live productions further strengthens our position as a trusted partner in the evolving media landscape. It demonstrates how our solutions help customers transition to more agile and scalable production models, unlocking new possibilities. Our customers gain the ability to extract and distribute more content from major events, which is particularly relevant for ancillary content such as unique camera angles, material created by athletes themselves, fan-conducted interviews, and content for magazine shows. Additionally, it enables cost-effective production and distribution of smaller events that were previously economically unfeasible due to limited budgets. It also paves the way for a transition away from satellite-based solutions, as the robustness of unmanaged networks has now reached a level that makes them a fully viable alternative.

Developing and investing in unmanaged network solutions is a key part of our strategy and an important piece of the puzzle in achieving our long-term financial goals. The growing demand for these solutions is driving revenue growth, and since they are less hardware-intensive than managed network solutions, we also expect an increasing share of unmanaged and cloud-based sales to contribute positively to profitability over time.

Read more here.

Andreas Eriksson has been appointed Chief Commercial Officer (CCO)

In December 2024, we were pleased to announce that Andreas Eriksson had been appointed CCO. He brings extensive global experience from the broadcast and media industry, both in Sweden and internationally.

He has a proven track record of driving growth and strengthening customer relationships, and I am very pleased to have him onboard. With his experience, Andreas will play a pivotal role in strengthening our commercial media operations and positioning us for further expansion.

Read more here.

A strong and rapidly growing interest in Zyntai as customers acknowledge challenges with securing resilient time synchronization

We continue to see a strong and rapidly growing interest in our time synchronization solution. In 2024, net sales from time synchronization accounted for 7.2 percent of the Group’s total net sales, with no Non-Recurring Engineering (NRE) included in that number.

By the end of the year, we had some ten commercial agreements for Zyntai, and our order book amounted to 172 MSEK. As we are just coming back from the Mobile World Congress in Barcelona it has been very encouraging to see how well our product fits into the 5G ecosystem. The customers we met acknowledged the ongoing challenges of securing resilient time synchronization in their 5G networks without over-relying on GNSS. They were impressed with what our Zyntai solution could do and as an example highlighted its ability to detect jamming and spoofing as highly relevant.

 A time synchronization customer mix that lays the foundation for accelerated growth

Our time synchronization solution suits both smaller 5G operators and the world’s largest operators. A small operator would typically require a few hundred Zyntai products whereas a large operator would require a few thousands to cover a nationwide network. Factors such as network heterogeneity, network topology, leased lines, and deployed time synchronization solutions influence the size of the customer opportunity.

Net Insight’s Zyntai solution is network based and can run on virtually any type of underlying network infrastructure. As it works together with existing synchronization solutions such as GPS/GNSS and existing PTP installations, it allows customers to complement existing solutions for cost-efficiency and/or improved redundancy and security. This results in both lower investment and operating cost. The latter as there is no need for costly upgrades of routers and line-cards when updates are being done in the network.

The sales cycles within the telecom sector are long and consist of a number of planned steps. For new solutions and vendors, lab trials (PoC) are required for both verification of the solution and for internal certifications. After a positive lab trial, the evaluation often turns into a field trial, either as a continued PoC or as a first limited commercial rollout.

After successful trials, negotiations for larger rollouts start and need to be aligned with budget allocation, often for the next fiscal period. The process thus starts long before the full rollout as well as the generation of larger revenue streams. Net Insight often builds a strong relationship with our customers during the course of this process. We have also started to see that our approach to treat time synchronization as a “function” that we transport over the underlying infrastructure radically can impact the customers’ network design and reduce their total cost of ownership.

For some operators, we expect them to gradually rollout Zyntai over longer periods of time, while some are expected to have the need for quicker upgrades due to either issues with GNSS vulnerability or high operating costs. Given this variation, it is challenging to fully anticipate the overall business dynamics, but we expect the dominating dynamic to be ongoing order acknowledgments in line with customers’ network enhancements.

Strategic partner sales highlight the importance of our partner network in achieving global time synchronization growth ambitions

In December, we announced that we had secured a time synchronization order from a leading European operator, for the delivery of time synchronization interoperable with their existing synchronization solutions. Zyntai was selected for its resilience and cost-efficiency, and we’re thrilled to be expanding our European footprint with this new customer, advancing towards GNSS independence. The deal is also significant as it was secured in collaboration with our partner, Sekom, in line with our partner strategy.

Read more here.

We also made a notable announcement late last year, marking our first time synchronization delivery to South African Synch Industries. This project is especially important as it represents our entry into the African market, setting the stage for future expansions across the region.

Furthermore, it represents our first sale related to a Time-as-a-Service (TaaS) operator. Synch Industries will build a national GNSS/GPS-independent time distribution network, aiming to provide accurate, resilient time as a service. Time is becoming a critical function across many industries including banking & finance, media companies, electricity companies, governments, and defense. It opens a new monetization opportunity for operators to sell time and synchronization as a service to a large number of industries. Such TaaS operators are strategic go-to-market partners to Net Insight for reaching new market segments with our Zyntai solution, without investing in new markets and the sales organization.

While we believe that TaaS will become an important opportunity to monetize time, it is important to also note that this service is specifically targeted at enterprise networks. For larger, mission-critical networks such as 5G, resilient time synchronization must still be secured within the network itself. As a result, TaaS-related Zyntai sales complement rather than compete with other sales opportunities for Zyntai and will therefore not impact our business engagements with mobile operators. We’re excited to continue our collaboration with Synch Industries and look forward to sharing more updates throughout the year. Additionally, I anticipate that TaaS will become an increasingly prominent offering within the industry.

Read more here.

Synch Industries website: Time Synchronization Solutions | NTP, PTP, IRIG

Time synchronization team expansion, to drive growth and innovation

As we continue to accelerate our synchronization ambitions, our time synchronization team is expanding in parallel. We are delighted to welcome Pramod Zachariah as Sales Director for APAC. Based in Singapore, Pramod brings over 20 years of experience in telecom and tech sales across the APAC region. Having joined us in December, he has already made a strong impact, engaging with customers and partners throughout the region.

Read more here.

We are also excited to introduce Steve Craycraft, who joined our tech sales team in North America in January. With a solid background in telecoms, most recently at Netscout, Steve will play a key role in supporting our many ongoing engagements in North America, where both Canada and the US are priority markets for us. As we scale up, we are equally committed to expanding our R&D team to ensure we keep pace with the continuous development of the Zyntai solution, as we roll it out to more customers this year.

Global momentum for GNSS-independent time synchronization

As previously mentioned, the Swedish Post and Telecom Authority (PTS), has set requirements for telecom operators to implement GNSS-independent synchronization for their 5G networks starting in 2025. We are now seeing similar initiatives emerging globally.

A recent BBC article highlighted how a flight from London to Vilnius in January 2024 had to abort its landing due to GPS interference, and over the last three months of 2024, more than 800 cases of GPS interference were reported in Lithuanian airspace, with similar concerns also raised in other countries. This issue underscores GPS jamming isn’t just a threat to aviation – it has the potential to disrupt financial, electricity, and communication systems. In the UK alone, the cost of losing GPS has been estimated at £1.4 billion per day.

As a result, resilient time synchronization is becoming increasingly critical in today’s societies, and the National Physical Laboratory (NPL) in the UK is now providing GNSS-independent time from a site in London. This reinforces the growing demand for secure time solutions, validating the importance of Net Insight’s Zyntai offering in delivering robust, independent time synchronization to industries and infrastructures worldwide.

In India, the Department of Consumer Affairs has undertaken a project together with Indian National Physical Laboratory (NPL) and India Space Research Organization (ISRO) to mandate Indian Standard Time for both critical infrastructure and consumers, aiming at “One Nation, One time”. The purpose of the project is to ensure accurate and resilient time distribution, which points out the need for redundancy using network-based synchronization, for critical sectors such as navigation, telecom, power, banking, digital governance, and scientific research.

A similar initiative is taking shape in Europe, where the European Commission’s Joint Research Centre (JRC) has launched a project to explore how resilient time distribution can be secured across EU member states, complementing existing GNSS infrastructure. It is recognized that GNSS currently underpins more than 10 percent of Europe’s total GDP, highlighting the strategic importance of enhancing time synchronization capabilities.

Additionally, U.S. Federal Communications Commission (FCC) Chairman Brendan Carr just recently announced that the Commission on the 27th of March will open a Notice of Inquiry into alternative and complementary PNT (Positioning, Navigation, and Timing) systems. The U.S. is officially exploring a broader set of technologies such as broadcast sync, eLoran, LEO satellites and terrestrial timing networks. The FCC’s Notice of Inquiry recognizes what many of us in the industry have been saying for years – GPS is too valuable and too vulnerable to stand alone.

In short, there is strong and growing global momentum for delivering resilient time. Securing time distribution without relying on GPS/GNSS is crucial for many critical industries, and regulators are now starting to act on what we have long emphasized. This confirms the strong demand for our solution and further strengthens Zyntai’s global position, ensuring our growth today and tomorrow.

More on this topic:

Plane GPS systems are under sustained attack – is the solution a new atomic clock?

Per Lindgren – Net Insight | International Timing and Sync Forum 2024 on Vimeo

Indian Department of Consumer Affairs

Mobile World Congress takeaways – A rapidly increasing awareness of GNSS risks and the benefits of Zyntai


Mobile World Congress in Barcelona is by far the largest trade show for the telecom industry, and this year’s event drew 109,000 visitors – an increase from the previous year. The focus remained on how to best monetize 5G and optimize network efficiency, with security and resilience continuing to be top priorities, especially given the current geopolitical landscape.

Net Insight was onsite and engaged with a broad range of stakeholders, including customers, business partners, regulators, investors, journalists, and analysts. The dialogue around our messaging was very positive, and it is becoming increasingly evident that mobile operators are recognizing the risks of relying solely on GNSS for time synchronization to a rapidly growing extent.

Our Zyntai solution resonated particularly well, as operators see it as a reliable, efficient, and cost-effective approach to securing network-based synchronization. They also valued its ability to detect and flag potential jamming or spoofing attempts within their networks – something traditionally difficult to accomplish. Overall, it was a highly successful event for us, and we are now eager to follow up on the valuable discussions we had.

Picture: Top picture – Busy hour at our booth. Bottom picture – Me presenting to the Swedish delegation from Business Sweden

Net Insight’s key role in Türk Telekom’s GSMA-endorsed satellite-independent synchronization network

In connection with Mobile World Congress, Türk Telekom issued a press release where they announced that they are establishing the world’s largest satellite-independent synchronization network together with Net Insight. They emphasized the critical importance of securing time synchronization to ensure service continuity for mobile operators and sectors with stringent synchronization requirements, while also highlighting the need for a cost-efficient solution.

Furthermore, the press release underscored that Telecom trade association Global System for Mobile Communications Association (GSMA) acknowledges the importance of seamless time synchronization for 5G (Time Division Duplex, TDD). GSMA recognized Türk Telekom’s synchronization implementation as a key industry model and encouraged broader adoption of similar innovations across 5G networks.

We have had a collaboration agreement with Türk Telekom since 2021 worth over SEK 200 million. This initiative is part of our ongoing commitment and continued cooperation, with the long-term ambition to expand internationally, opening up exciting opportunities for further growth and engagement. I’m incredibly proud to see Zyntai playing a central role in this ambitious rollout, as Türk Telekom aims to establish nationwide coverage across Türkiye. It’s also a strong validation to have our solution recognized by GSMA, given their key role in shaping the telecom industry. We, together with Türk Telekom, consider the GSMA’s support as a key indicator that we are successfully advancing on the right path.

Read more here.

A solid product portfolio paves the way for an exciting 2025

Our media solutions for managed networks remain our bread and butter, and we expect them to continue delivering solid and profitable growth. At the same time, our solutions for media transport over unmanaged (internet- and cloud-based) networks, as well as our Zyntai solution for time synchronization, create new growth opportunities.

We have an exciting year ahead. In media we look forward to the launch of our groundbreaking 400Gb/s IP-platform at the turn of the year 2025/2026 and continued strengthening of our offering for unmanaged networks. In time synchronization, we see strong interest in Zyntai in the wake of increasing awareness of the need for resilient and cost-effective GNSS/GPS-independent time synchronization, and we are strongly focusing on expanding our market penetration.

While the global landscape presents its share of geopolitical uncertainty, the market segments we operate in offer strong growth opportunities. With our solid foundation and clear strategic direction, we are well-positioned to capitalize on these opportunities and navigate the road ahead with confidence.

Thank you for being part of our journey.

About the Author

Crister Fritzson

CEO